Tag Archives: data security

How to Report Data Security Incidents

This entry is part 27 of 27 in the series Data Security

What Is Data Breach?

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to exercise discretion and due diligence to protect their customers’ data from a breach.

Imagine you just received a call informing you that your business and customer records have been compromised. What do you do?

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Email Security Best Practices: Do’s and Don’ts of Email Use

While email is a great tool both personally and professionally, it also poses one of the greatest threats to your business. Bad actors can use a variety of email scams such as ransomware, phishing, and a variety of other tools to not only disrupt personal computers, but also business technologies while gaining access to personal or business information that would be harmful for the outside world to have.

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How to Keep Your Restaurant Safe From Cyber Threats

This entry is part 26 of 27 in the series Data Security

Handling electronic data is an unavoidable part of operating any business today, but what would happen to your restaurant if that sensitive information was the target of a cyberattack? We tend to remember big, scandalous data breaches like Equifax or Sony, but that’s only because they are highly publicized. In reality, an estimated 90% of cyberattacks affect small businesses and the average cost of one is $116,967. Couple that with loss of customer trust and suddenly it’s no surprise that 60% of small businesses go out of business within 6 months of a data breach.

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Cyber Liability: Privacy Regulatory Defense & Penalties Coverage

This entry is part 25 of 27 in the series Data Security

The U.S. National Cyber Security Alliance reports that 60% of companies affected by a data breach will go out of business within six months. At a time when technology and the risks associated with it affect every person and business, Society Insurance provides leading-edge Cyber Liability insurance with comprehensive data security and privacy coverage.

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Cyber Terrorism: How Insurance Can Help Mitigate Damages

This entry is part 1 of 27 in the series Data Security

What is Cyber Terrorism?

Cyber terrorism is a politically-motivated attack against computers and data. These attacks are intended to be disruptive and advance the attackers’ political or religious stance. Acts of cyber terrorism result in a total or partial interruption of a computer system. Unlike cyber extortion, the hacker isn’t asking for any sort of ransom in cyber terrorism situations.

Examples of Cyber Terrorism

  • Sophisticated network attacks to gain access to sensitive data and high-value business information
  • Viruses and worms that are maliciously designed to disrupt, damage and attack an electronic infrastructure
  • Hacks to collect personally-identifiable information which can be used to steal identities

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Cyber Liability Insurance – Network Asset Protection Coverage (Video)

This entry is part 2 of 27 in the series Data Security
Electronic data is an important component of your business operations. What would happen if you suddenly lost access to this information? Would you be prepared for the cost associated with recovering your computer network assets? (more…)

Data Breach and Your Damaged Reputation

This entry is part 3 of 27 in the series Data Security
It is no secret that criminals are getting smarter at using technology to their advantage.  Unfortunately, that means your business could be the victim of a data breach left to face tremendous financial costs, lost customers and a damaged reputation. When word gets out that data was compromised at your business, it may take time to convince customers that it is safe to come back. (more…)

Cyber Liability Insurance – Security and Privacy Liability Coverage

This entry is part 4 of 27 in the series Data Security
If your business suffers a data breach, you may see yourself as the victim. But there could be a different perspective for customers or employees whose data has been compromised. They may view you, the business owner, as responsible for not properly safeguarding their confidential information. Would your business be prepared for the related lawsuits? (more…)

Common Data Threats and Vulnerabilities

This entry is part 5 of 27 in the series Data Security
When it comes to data security, a threat is any potential danger to information or systems. Threats could be an intruder network through a port on the firewall, a process accessing data in a way that violates the security policy, a tornado wiping out a facility, or an employee making an unintentional mistake that could expose confidential information or destroy a file’s integrity.

It’s critical for every business to understand their risk. An important step in data security is to identify potential threats, classify them by category, and evaluate the damage potential to the company. Use this checklist to understand common data threats and assess how they may affect your business: (more…)

PCI DSS Compliance and Cyber Liability Insurance

This entry is part 6 of 27 in the series Data Security
Did you know that businesses are required to implement a set of security standards to protect credit card data?

Did you also know that banks and credit card companies can impose fines and penalties on your business if you fail to maintain these requirements? (more…)